IBM beats by $0.01, beats on revs (169.12 +0.47)
Reports Q4 (Dec) earnings of $5.18 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $5.17; revenues rose 3.6% year/year to $22.54 bln vs the $22.03 bln Capital IQ Consensus.
Excludes the one-time charge of $5.5 billion associated with the enactment of U.S. tax reform.
Fourth-quarter cloud revenues increased 30 percent to $5.5 billion (up 27 percent adjusting for currency). Cloud revenue over the last 12 months was $17.0 billion, including $9.3 billion delivered as-a-service and $7.8 billion for hardware, software and services to enable IBM clients to implement comprehensive cloud solutions.
The company will discuss 2018 expectations during today's quarterly earnings conference call.